Oakwood to manage Tokyo serviced apartment block

George Sell By George Sell
13 December 2013 | Updated 30 January 2017

Japan: Oakwood Worldwide has taken its portfolio of Tokyo apartments to more than 500, with the signing of a management agreement for Oakwood Apartments Ariake.

Oakwood has entered into a five-year management agreement with Ascendas Hospitality Trust, starting on January 1, 2014, for 122 apartments at Oakwood Apartments Ariake, Tokyo, formerly B:CONTE Ariake.

The property offers easy access from Tokyo Haneda Airport and is located near the Tokyo Waterfront Secondary City, Palette Town, Tokyo Big Sight, Tokyo Disneyland and the Ariake Colosseum - home to a number of 2020 Olympic events. It has a mix of 98 studio and 24 one-bedroom apartments, all with modern kitchenette, in-unit washer and dryer and free Wi-Fi. Residents will also benefit from a concierge service, fitness centre and access to the adjacent hotel's restaurant and cafe.

PG Mathew, managing director for Oakwood Worldwide Asia Pacific, said: "The business traveller is going to love our apartments in Ariake. The product is extraordinary and ideally located near major businesses and the Olympic Park. Moreover, we are in negotiations to offer this as our first serviced apartment in Japan located within a zone that permits stays of less than 30 days."

Tan Juay Hiang, chief executive officer of the fund managers of Ascendas Hospitality Trust, said: "We are very pleased to have our property carry the Oakwood name. With Oakwood's strong branding and established track record, we are confident they will enhance the services and performance of our asset in Tokyo. We look forward to a successful partnership with Oakwood Worldwide."

Oakwood Worldwide operates seven other branded properties in Japan, located in Akasaka, Aoyama, Azabujyuban, Roppongi, Shirokane and Tokyo Midtown. A ninth property, the Oakwood Residence Tokyo is scheduled to open in the spring of 2015.

www.oakwood.com

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